3 ms·
There is only one law which says exclusively. The "primarily" thing is an interpretation of the law by IRS.
by counterpointer 13y ago
There is only one law which says exclusively. The "primarily" thing is an interpretation of the law by IRS.
- samolang 13y agoI guess we interpreted this differently: > Spurred by such concerns over unfair competition and lost revenue, Congress enacted the UBIT. It taxed any trade or business regularly carried on by Section 501(c) organizations if the activity is not related—aside from the need for funding—to the organization’s exempt purpose.